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TCM

Tang Capital Management Portfolio holdings

AUM $2.2B
1-Year Est. Return 156.35%
This Fund
S&P 500
This Quarter Est. Return
+13.16%
1 Year Est. Return
+156.35%
3 Year Est. Return
+492.92%
5 Year Est. Return
+804.3%
10 Year Est. Return
+3,997.35%
AUM
$202M
AUM Growth
-$51.9M
Cap. Flow
-$164M
Cap. Flow %
-81.11%
Top 10 Hldgs %
91.19%
Holding
21
New
2
Increased
–
Reduced
1
Closed
4

Top Buys

Rank Stock Value
1
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$11.6M
2
SPHS
Sophiris Bio, Inc.
SPHS
+$2.31M

Top Sells

Rank Stock Value
1
NKTR icon
Nektar Therapeutics
NKTR
+$10.5M
2
MNKD icon
MannKind Corp
MNKD
+$7.71M
3
ASRT
Assertio
ASRT
+$6.85M
4
NAVB
Navidea Biopharmaceuticals Inc.
NAVB
+$2.32M
5
RMTI icon
Rockwell Medical
RMTI
+$1.62M

Sector Composition

Rank Sector Weight
1 Miscellaneous 73.01%
2 Healthcare 26.99%
3 Industrials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SLXP
1
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
$20.1M 9.94%
300,000
– –
MRTX
2
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$17.9M 8.86%
+1,181,400
New +$11.6M
BMRN icon
3
BioMarin Pharmaceuticals
BMRN
$12.5B
$13.2M 6.52%
182,300
– –
ACHV icon
4
Achieve Life Sciences
ACHV
$768M
$8.65M 4.28%
424
– –
ASRT
5
DELISTED
Assertio
ASRT
$6.24M 3.09%
13,932
-16,773
-55% -$6.85M
ECYT
6
DELISTED
Endocyte, Inc. Common Stock
ECYT
$6.21M 3.07%
465,763
– –
SPHS
7
DELISTED
Sophiris Bio, Inc.
SPHS
$2.34M 1.16%
+500,000
New +$2.31M
DNDN
8
DELISTED
DENDREON CORPORATION
DNDN
$233K 0.12%
79,600
– –
BGMS
9
Bio Green Med Solution Inc
BGMS
$6.42M
– –
0
– -$218K
MNKD icon
10
MannKind Corp
MNKD
$1.15B
– –
-236,957
Closed -$7.71M
NKTR icon
11
Nektar Therapeutics
NKTR
$2.28B
– –
-60,737
Closed -$10.5M
RMTI icon
12
Rockwell Medical
RMTI
$31.6M
– –
-4,074
Closed -$1.62M
NAVB
13
DELISTED
Navidea Biopharmaceuticals Inc.
NAVB
– –
-43,404
Closed -$2.32M
AMBI
14
DELISTED
Ambit Biosciences Corp
AMBI
$0 ﹤0.01%
46
– –

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Tang Capital Management's Q3 2013 Portfolio in Review

As of Q3 2013, Tang Capital Management held 21 positions worth $202M, down 20% from $254M the previous quarter. Its ten largest holdings account for 91% of the portfolio.

Tang Capital Management withdrew a net $164M in Q3 2013, closing 4 positions and reducing 1 holding. Its most notable exit was Nektar Therapeutics, an estimated $10.5M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 73% of assets, down from 77% a quarter earlier, followed by Healthcare and Industrials.

Against the trend, Tang Capital Management opened a new position in Mirati Therapeutics, Inc. Common Stock worth $17.9M.

  • Tang Capital Management's largest Q3 2013 buy was Mirati Therapeutics, Inc. Common Stock: 1,181,400 shares worth $17.9M.
  • Tang Capital Management's biggest Q3 2013 reduction was Assertio, cutting an estimated $6.85M.
  • Tang Capital Management fully exited Nektar Therapeutics in Q3 2013, selling an estimated $10.5M.
  • Tang Capital Management's ten largest holdings make up 91% of its $202M portfolio in Q3 2013.
  • Tang Capital Management opened 2 new positions and closed 4 in Q3 2013.
  • Tang Capital Management's portfolio value fell 20% quarter-over-quarter to $202M.

Based on Tang Capital Management's 13F filing for Q3 2013, filed 14 Nov 2013.